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Money creation, essential tool of Convivialism

Par : Contributeur(s) : Type de matériel : TexteTexteLangue : français Détails de publication : 2021. Ressources en ligne : Abrégé : Monetary issues are too often neglected in reflectios on the transition towards a more convivial society. This article provides a discussion of the role of money creation. It defends the idea that the scarcity of money, which is frequently invoked in order to justify neoliberal austerity measures, is a politically constructed fiction. At the opposite end of this fiction, the Modern Money Theory (MMT) offers today a sturdy theoretical as well as practical framework within which to design a monetary system that is both more democratic and freed from the “myth of the publicc deficit.” No, a nation that has monetary sovereignty does not have to bow down to the fiction of over-indebtedness, or to the sirens of austerity, or to the dictates of the financial markets. However, many countries do not enjoy full monetary sovereignty. Furthermore, even in those that do, we need to avoid the development of a fetishism of the State. That is why, in this article, we view a combination of MMT-inspired national currency emission and the creation of local complemetary currencies as a collective “optimum.” This way, a serene path towards conviviality can be imagined, at least to what regards monetary and financial matters.
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Monetary issues are too often neglected in reflectios on the transition towards a more convivial society. This article provides a discussion of the role of money creation. It defends the idea that the scarcity of money, which is frequently invoked in order to justify neoliberal austerity measures, is a politically constructed fiction. At the opposite end of this fiction, the Modern Money Theory (MMT) offers today a sturdy theoretical as well as practical framework within which to design a monetary system that is both more democratic and freed from the “myth of the publicc deficit.” No, a nation that has monetary sovereignty does not have to bow down to the fiction of over-indebtedness, or to the sirens of austerity, or to the dictates of the financial markets. However, many countries do not enjoy full monetary sovereignty. Furthermore, even in those that do, we need to avoid the development of a fetishism of the State. That is why, in this article, we view a combination of MMT-inspired national currency emission and the creation of local complemetary currencies as a collective “optimum.” This way, a serene path towards conviviality can be imagined, at least to what regards monetary and financial matters.

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